yes .. to legalize this bitcoin bitcoin system it should seek approval in that country. because it concerns the security of bitcoin and the security of its users. I think this can be legitimized by the government itself. But can this ETH price rise if the whole country legalize bitcoin ..?.

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

Government or country's approval play a role in increasing the usage of the bitcoin. Approval of them helps to promote and advertise the cryptocurrency such as bitcoin. In reality, bitcoin doesn't need any approval to all. You can use it anywhere and anywhen. As long as you have an internet connection and a device you can access bitcoin smoothly. People's approval only means that it is a good choice to be involve in bitcoin and use it as long as you desire.

I think bitcoin didn't not required endorsement on a nation. Since part of nation like my nation bangladesh didn't yet favor but then didn't illegallize. For whatever length of time that the nation didn't banned cryptocurrency then you put it all on the line.

It has become necessary for the governments to accept and legalize Bitcoin in a country in order to eliminate the fear, doubts and uncertainty that might be hovering over the thoughts of new investors of Bitcoin in those countries.

Approval is basically required for making the transactions legal done by merchants or exchanges for the local currency.Else btc can be used if there is a device and internet connection available.Also, i see many countries joining the club of approving btc and thats a good sign for the long term aspect.The more and more awareness spreads the more the other global nations would also look into it and make it legal faster so that they dont lag in this aspect.

all things in the country need approval from the government, because if not it will never legal, so we can called it illegal, so if we want to use bitcoin safe bitcoin should have approval from the government, usually government makes a regulation for bitcoin in a country

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

I think it needs approval because if bitcoin affect our country government will be the one that will blamed by the people. Actually there is a chance that bitcoin will affect our economy and also can make our bank disappear.

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

Will,in this situation the government of every country needs an approval to become the bitcoin as an legit investment and parts of economic progress in order to done a bussiness smoothly and in order,just like happen in the country of japan,they recognize the cryptocurrency investment as part of there economic growth as an capitalize country,so therefore this happen in the country of germany in approving the crypto is only a way to make the investment run in legality and according to the government law.

It doesnt truly require any endorsement or be sanctioned for individuals from a particular nation have the capacity to utilize bitcoin and even a nation restricted its utilization individuals can at present utilize it yet the issue is individuals cannot exchange it for nearby money or utilize it for installment. After an endorsement from a nation obviously individuals can openly utilize bitcoin locally and trade it for fiat without stressing that you are completing an unlawful movement.